Bahrain National Holding Company (BNH), the parent company of Bahrain National Insurance (bni) and Bahrain National Life Assurance (bnl) has announced today a net profit of $5.9 million for the nine months ended 30 September 2011. The Group posted $6.6 million for the same period last year.
The Company registered net earned premium income of $26.4 million for the period in comparison to $27.3 million for the same period in 2010. Underwriting profit was at $3.4 million in compared with $3 million for the same period in 2010.
Net investment income for the period decreased to $5 million compared to $5.8 million for the same period in 2010.
“We are very pleased with the results of the Group, Subsidiaries and Associates have achieved during the 3rd quarter of this year and the year to date, considering the regional and the world economic and political situations. This reflects our commitments and sounds the strategic direction that we have set for the Group of investing and expanding in the core and complementing insurance businesses locally and regionally,” Mahmood Al Soufi, Chief Executive of BNH, said.